JPMorgan Chase & Co. Reduces Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

JPMorgan Chase & Co. lessened its holdings in shares of AppFolio, Inc. (NASDAQ:APPF) by 49.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,909 shares of the software maker’s stock after selling 80,369 shares during the period. JPMorgan Chase & Co.’s holdings in AppFolio were worth $19,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. South Dakota Investment Council grew its position in AppFolio by 94.4% during the 4th quarter. South Dakota Investment Council now owns 3,500 shares of the software maker’s stock worth $864,000 after purchasing an additional 1,700 shares during the period. SYM FINANCIAL Corp acquired a new stake in AppFolio during the fourth quarter worth about $292,000. Sei Investments Co. raised its position in AppFolio by 9.4% during the fourth quarter. Sei Investments Co. now owns 45,826 shares of the software maker’s stock valued at $11,306,000 after acquiring an additional 3,935 shares in the last quarter. Los Angeles Capital Management LLC raised its position in AppFolio by 8.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 114,462 shares of the software maker’s stock valued at $28,240,000 after acquiring an additional 9,401 shares in the last quarter. Finally, Deepwater Asset Management LLC acquired a new position in AppFolio in the fourth quarter valued at approximately $15,483,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Down 2.4 %

Shares of NASDAQ APPF opened at $223.04 on Friday. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 40.19 and a beta of 0.86. The company’s 50-day simple moving average is $218.41 and its 200-day simple moving average is $231.72. AppFolio, Inc. has a 52-week low of $189.01 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. Equities research analysts anticipate that AppFolio, Inc. will post 3.96 EPS for the current fiscal year.

Insider Activity

In related news, insider Matthew S. Mazza sold 838 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total value of $213,941.40. Following the completion of the transaction, the insider now directly owns 22,701 shares of the company’s stock, valued at approximately $5,795,565.30. This represents a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total value of $760,662.27. Following the completion of the transaction, the chief executive officer now owns 83,824 shares in the company, valued at $18,212,440.48. The trade was a 4.01 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APPF. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. KeyCorp cut shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a report on Friday, January 10th. Stephens reiterated an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research report on Friday, January 31st. Finally, Piper Sandler restated a “neutral” rating and set a $265.00 target price on shares of AppFolio in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $276.29.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.